Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Trading 13% Higher After Dividend Announcement

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) shares were up 13% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $29.69 and last traded at $29.59. Approximately 430,672 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 964,458 shares. The stock had previously closed at $26.19.

The newly announced dividend which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Wednesday, July 3rd. Hannon Armstrong Sustainable Infrastructure Capital’s payout ratio is 123.88%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HASI. B. Riley raised their price objective on shares of Hannon Armstrong Sustainable Infrastructure Capital from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Bank of America lifted their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $27.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. TheStreet raised shares of Hannon Armstrong Sustainable Infrastructure Capital from a “d+” rating to a “c” rating in a report on Thursday, February 15th. StockNews.com upgraded Hannon Armstrong Sustainable Infrastructure Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley raised their price target on Hannon Armstrong Sustainable Infrastructure Capital from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hannon Armstrong Sustainable Infrastructure Capital currently has an average rating of “Moderate Buy” and a consensus target price of $32.22.

Hannon Armstrong Sustainable Infrastructure Capital Trading Up 16.2 %

The company has a fifty day simple moving average of $26.09 and a 200-day simple moving average of $24.73. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 0.99 and a beta of 1.88. The company has a current ratio of 19.42, a quick ratio of 19.42 and a debt-to-equity ratio of 1.98.

Hedge Funds Weigh In On Hannon Armstrong Sustainable Infrastructure Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Hannon Armstrong Sustainable Infrastructure Capital by 1,411.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 150,714 shares of the real estate investment trust’s stock valued at $4,192,000 after buying an additional 140,744 shares in the last quarter. Cascade Investment Group Inc. acquired a new position in shares of Hannon Armstrong Sustainable Infrastructure Capital in the 4th quarter valued at about $1,225,000. Raymond James & Associates lifted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 20.9% in the fourth quarter. Raymond James & Associates now owns 207,946 shares of the real estate investment trust’s stock worth $5,735,000 after purchasing an additional 35,920 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Hannon Armstrong Sustainable Infrastructure Capital during the fourth quarter valued at approximately $1,533,000. Finally, Vanguard Group Inc. increased its stake in Hannon Armstrong Sustainable Infrastructure Capital by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,904,638 shares of the real estate investment trust’s stock valued at $252,378,000 after buying an additional 1,847,577 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Hannon Armstrong Sustainable Infrastructure Capital Company Profile

Hannon Armstrong Sustainable Infrastructure Capital, Inc, through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities.